AllMortgageDetail - Mortgage Application Details

Guaranteed Rate Inc
Mortgage Loan Application
Totals and Details
for 2014

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Mortgage Company & Address Guaranteed Rate Inc
3940 N Ravenswood Ave
Chicago, IL 60613
Federal Regulator Department of Housing and Urban Development (HUD)
Years 2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  
Total Number of Mortgage Applications 50,597
Total Mortgage Loan Application Amount $13,546,503,000
Average Mortgage Loan Application Amount $195,795
Highest Mortgage Loan Application Amount $2,981,000
Average Applicant Income $109,794
Highest Applicant Income $7,699,000

Mortgage Loan Application Detail Totals for Guaranteed Rate Inc in 2014

Loan Purpose

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Home Purchase 34,008 $8,884,753,000 $261,000 $2,981,000 $122,000 $7,699,000
Refinancing 16,589 $4,661,750,000 $281,000 $2,300,000 $136,000 $3,875,000
Home Improvement 0 $0 $0 $0 $0 $0

Applicant Race

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
White 38,107 $10,180,920,000 $267,000 $2,981,000 $129,000 $7,699,000
Not Provided 3,818 $1,103,757,000 $289,000 $2,230,000 $133,000 $2,250,000
Asian 3,688 $1,120,338,000 $303,000 $2,000,000 $141,000 $1,034,000
Hispanic 3,028 $702,239,000 $231,000 $2,288,000 $94,000 $1,100,000
Black or African American 1,627 $350,063,000 $215,000 $1,313,000 $92,000 $1,261,000
Native Hawaiin or Other Pacific Islander 176 $49,715,000 $282,000 $1,551,000 $127,000 $968,000
American Indian or Alaskan Native 153 $39,471,000 $257,000 $1,362,000 $108,000 $701,000
Not applicable 0 $0 $0 $0 $0 $0

Loan Type

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 42,740 $11,848,020,000 $277,000 $2,981,000 $136,000 $7,699,000
FHA-insured (Federal Housing Administration) 5,463 $1,137,930,000 $208,000 $985,000 $76,000 $544,000
VA-guaranteed (Veterans Administration) 1,647 $443,754,000 $269,000 $1,094,000 $89,000 $415,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 747 $116,799,000 $156,000 $580,000 $53,000 $358,000

Outcome

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Loan Originated 37,072 $9,778,832,000 $263,000 $2,300,000 $124,000 $3,875,000
Application Withdrawn By Applicant 6,594 $1,868,452,000 $283,000 $2,500,000 $134,000 $3,000,000
Application Denied By Financial Institution 3,437 $886,216,000 $257,000 $2,300,000 $115,000 $2,881,000
File Closed For Incompleteness 3,187 $937,294,000 $294,000 $2,981,000 $145,000 $3,988,000
Application Approved But Not Accepted 307 $75,709,000 $246,000 $2,100,000 $147,000 $7,699,000
Loan Purchased By The Institution 0 $0 $0 $0 $0 $0
Preapproval Approved but not Accepted 0 $0 $0 $0 $0 $0
Preapproval Denied by Financial Institution 0 $0 $0 $0 $0 $0

Denial Reason

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Debt-To-Income Ratio 874 $227,869,000 $260,000 $1,500,000 $81,000 $757,000
Credit History 699 $170,725,000 $244,000 $1,670,000 $104,000 $2,881,000
Collateral 691 $162,242,000 $234,000 $2,000,000 $140,000 $1,773,000
Other 566 $150,415,000 $265,000 $2,300,000 $144,000 $2,850,000
Unverifiable Information 195 $47,444,000 $243,000 $1,000,000 $101,000 $480,000
Credit Application Incomplete 125 $49,232,000 $393,000 $2,100,000 $186,000 $1,932,000
Employment History 93 $22,994,000 $247,000 $1,425,000 $81,000 $375,000
Insufficient Cash (Downpayment, Closing Cost) 60 $13,982,000 $233,000 $1,000,000 $92,000 $323,000
Mortgage Insurance Denied 10 $1,940,000 $194,000 $280,000 $89,000 $145,000